Downtown Lexington Retail Property Sells for $2M

Banker & Tradesman – A vacant, single-story retail building in the heart of Lexington has been sold for $2.05 million.

Linear Retail Properties LLC purchased 25 Waltham St., a 3,729-square-foot, single-story storefront retail property in Lexington Center. The property is currently available for lease, according to a statement from the company. The building was last sold in 1975 and is currently assessed for $640,000, according to town property tax records. The town’s zoning bylaw currently requires new banks and real estate offices to obtain a special permit from the town planning board.
Linear Retail also owns the Giroux Building in Lexington Center, which is tenanted by Via Lago, Royal Indian Bistro and Sanyo restaurants, Abbott’s Frozen Custard, Eastern Bank and other retail operators.

“Lexington Center has one of the most vibrant downtowns in New England with an optimal mix of retail, restaurant and service establishments along with easy access to parking for shoppers’ convenience,” Linear Retail Partner Aubrey Cannuscio said in a statement.

Jeremy Cyrier of MANSARD represented the seller in this transaction and presented the opportunity to Linear Retail. Rick Rostoff, vice president of acquisitions for Linear Retail, managed the deal on behalf of the buyer.